Chancellor helps Parkman to record

CHANCELLOR Gordon Brown's drive to improve Britain's creaking transport system largely through outsourcing the work to the private sector has led to a record £102m order book for consulting engineer and asset management group Parkman.

It is involved in a two-year contract to shore up the Blackwall Tunnel and improve traffic flows as well as contracts with nine London boroughs for highway maintenance and housing.

London is now responsible for half the group's turnover boosting its first pre-tax profits since flotation by 94% to £2.1m in the year to last March. Transport for London has also given the group contracts to improve and maintain roads in many parts of the capital.

Chairman Richard Archer is confident about the long-term future as Government spending continues to benefit the company.

The group also has important contracts with Thames Water to solve its leakage problems and keep water flowing to millions of homes in London.

Shareholders will receive a 0.9p final dividend payment. Parkman shares, which were floated at 148p last July, today advanced by 2p to 134p.